Md. Code Regs. 05.14.01.05

Current through Register Vol. 51, No. 24, December 2, 2024

Section 05.14.01.05 - Project Proposals and Processing

A. Number of Proposals. A nonprofit organization may submit only one project proposal in any State fiscal year.

B. Forms and Documentation. A project proposal shall be made on standard forms provided by the Program and shall include:

(1) The name and a description of the project to be conducted, and the amount of the tax credit allocation requested;

(2) A description of the problem to be addressed by the project and who will benefit from the project;

(3) A description of the project goals and the measurable objectives;

(4) The priority funding area benefited by the project, together with a statement whether the priority funding area includes, in whole or in part, a sustainable community or a designated neighborhood conservation area;

(5) A description of the experience and capabilities of the nonprofit organization and its key staff members:

(a) In carrying out similar projects, and

(b) In general;

(6) The proposed budget for the project;

(7) A description of the plans for implementing the project;

(8) A copy of the following organizational documentation for the nonprofit organization:

(a) The letter from the Internal Revenue Service granting tax-exempt status under § 501(c)(3) of the Internal Revenue Code,

(b) Articles of incorporation,

(c) Bylaws, and

(d) A corporate resolution authorizing submission of the application and designating the person or persons authorized to sign documents in connection with the approval of the project, allocation of tax credits, and certification for contributions;

(9) As required by the Program, financial statements, annual operating budget, list of major contributors, and current and anticipated funding sources;

(10) Written approval for the project of the governing body of each:

(a) County in which the priority funding area benefited by the project is located; and

(b) Municipal corporation in which the priority funding area benefited by the project is located; and

(11) Any other information considered necessary by the Program.

C. Timing. Applications shall be made in accordance with application and competition cycles publicized to nonprofit organizations, local governments, and other interested persons by direct mailing, press release, or other methods selected by the Program.

Md. Code Regs. 05.14.01.05

Regulation .05B amended effective May 13, 2002 (29:9 Md. R. 744); December 20, 2004 (31:25 Md. R. 1790); September 11, 2006 (33:18 Md. R. 1505);41:17 Md. R. 970, eff. 9/1/2014